Posted on 08/16/2019 6:30:54 AM PDT by central_va
With the “Fight for $15 External link ” making headlines, opinions abound about whether raising the federal minimum wage will have a positive or negative effect on unemployment rates. Advocates of an increase cite the impossible task of making ends meet on today’s paltry sum of $7.25 an hour and say an increase would have little effect on the overall economy. Those against such a move predict that doing so would cause employers to lay off more and hire less—raising unemployment rates as a result. As is often the case with such emotionally charged issues, especially in an election year, the broader conversation about the minimum wage tends to involve more feeling than historical fact. To balance such a dynamic, we decided to turn to the data to see what it reveals.
(Excerpt) Read more at onlinebusiness.syr.edu ...
How did you deduce that I have a problem with laws out of what I posted??? I was making the point that in your profession people make a great deal of money on other peoples efforts yet you espouse that companies should pay people more for their work and take less profit. Nothing in my post indicates that I have a problem with the law. That's some really convoluted thinking.
So you ignore the data and the facts. Wow.
Academics didn’t make up facts. Show data the when the minimum wage rose and it corresponding to an increase unemployment.
Except the data(facts) do not support that clam. DID YOU LOOK AT THE DATA?
That applies to every commodity needed to run the business. If electricity goes form 10cents/KW-HR to 15cents/KW-HR there is a price increase because all competitors have the same cost increase. Just like labor.
If you keep this attitude then the Republican Party will always struggle with getting the working class. The Republican Party will always be a minority party with few exceptions. This is a political and not just an economic issue.
That is pretty ridiculous even for Free Republic standards.
What a hero.
What free market for labor when the Chamber of Commerce and the GOP flood us with cheap imported labor at all levels of skill, H-1B to landscapers? Right................
So you agree that it creates inflation, and when the businesses have to raise the prices of their products they ultimately price themselves out of customers. If the other skilled employees have their compensation increased, then those at the bottom soon find themselves in the same position as before. Surely you see the circular affects of raising minimum wages actually create, don’t you?
There is no historical data supporting the long held supposition that past increases in the minimum wage pushed up inflation. I am going to post in the near future a thread containing data and facts showing zero correlation between the two. Of coarse all will ignore the facts.
Actually many do ! Particularly in the social sciences, if “data ex nihilo” is needed to fit their political biases. Paul Krugman comes to mind. There are studies out there that show increase minimum wage yields increased unemployment. You can find them as easily as I can.
Not saying your wrong or its right. One should not accept data uncritically. Don’t we criticize the “warmies” for doing that! My first reading of the paper yields an initial impression of “cherry picking” to get the desired result. For example in the cases cited I think there was a lot more going on economically then what’s compared.
Question: Then labor costs don’t matter? The customer will always absorb the increases?
$1.60 in 1972 is equivalent in purchasing power to about $9.82 in 2019. The current min wage is $7.25/hr. You made 35% more than minimum wage in today's dollars.
I am not looking at studies I am looking at raw data. Do you know the difference?
ok Do you always start a discussion out with an insult?
I'm being placed in the servitude of government, call it slavery, with such dictates.
I'd show you the data of inflation vs min wage but I think you lack the intellectual honesty to draw obvious conclusions. You are brain washed.
Do you know the difference?
The GOP getting behind a modest increase in the min wage would pay huge dividends politically, not do any damage to the economy and would show that the GOP has indeed turned a corner.
It think post Trump the GOP is toast.
Being FOR the wage earner does not make a person a socialist. The GOP getting behind an increase the min wage would be a sign that the GOP gets it.
Supporting price controls does not make one a socialist?
Tell me more...
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